Shulou(Shulou.com)11/24 Report--

CTOnews.com, Nov. 15 (Xinhua)-- General Motors hopes to rapidly expand its electric vehicle portfolio in the next few years, but is not expected to make a profit by selling electric vehicles until 2025, according to a new report.

According to Automotive News, GM's internal unnamed sources say about 44000 electric vehicles will be sold this year and are unlikely to profit from the sales. However, its stated goal is to become an important player in the field, with plans to reach its sales target of 1 million electric vehicles by 2025, and the company hopes to make a profit by selling electric vehicles in the same year.

CTOnews.com learned that GM had previously said it hoped to double its revenue from 2021 by 2030 and generate about $280 billion from sales of internal combustion engines and electric vehicles. In announcing the news, GM also said it would use its vast network of research and production facilities in North America and around the world to expand its business "beyond cars".

General Motors CEO Marry Barra will announce its profit target on November 17 and is expected to introduce advances in the Ultium platform, especially improvements in battery energy density for second-generation Ultium electric vehicles, the report said.

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